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Report
Australia Home Appliances - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2020 - 2029
Market Report I 2024-02-17 I 130 Pages I Mordor Intelligence
The market has generated a revenue of more than USD 5 billion in the current year and is poised to achieve a CAGR of more than 2.0% for the forecast period.
The Australian home appliances market offers a steady and promising growth, owing to factors, like rapid rise in the current population, which is leading to the rapid growth of real estate to accommodate the rising population. This is leading to innovation in either new products for the new homes or replacement sales for the existing appliances in the market. The day-to-day changing technology is trying to cope with the dynamic needs of customers. Technological advancements, ie., the innovations that the manufacturers bring into product improvement, are boosting the market for replacement sales. The high younger customers group prefers product designs, considering the attractiveness the product holds, the ease of operation, automation, and customization it holds, along with the multi-utility of the product. With the changing environmental conditions, customers also prefer the energy and water-efficient appliances for their homes.
By capturing millennials' interest and understanding their preferences, manufacturers are trying to invest higher amounts in innovation. The digital moving world is enhancing the growth of the online sales ratio higher than ever before in this region. The home appliances market in Australia holds a greater scope for online purchases too. The e-commerce penetration, the virtual reality tours, and the online stores offering explains the interest that manufacturers or marketer showing imply the importance that companies are giving to customer satisfaction.
Australia Home Appliances Market Trends
Increasing Smart Appliances Penetration is Driving the Market
Manufactures are giving greater importance to dynamic changes that are occurring in the consumer's preferences. Innovation in product development, adoption of the latest technology, such as the Internet of Things (IoT) and Artificial intelligence (AI), are driving the market. The smart homes concept, increasing popularity for digital connectivity of all the appliances, and AI and IoT functionalities on appliances connected through the internet are key elements that the customers are looking forward to. Diminishing levels water reserves across the world are shaping the market for washing machines with low water utilization.
E-commerce Platforms are Driving the Market
There is a great scope for an increase in online-based sales of home appliances. The growth of the e-commerce sector is expected to be supported by rising internet penetration and smartphone use. This increase in E-commerce can drive the electronics sales such as home appliances and other domestic appliances. The rising urbanization and modernization are further driving the growth of e-commerce.
Australia Home Appliances Industry Overview
The report covers major players operating in the Australia home appliances market. The Australian home appliances market is a saturated market, with a low chance for newcomers to enter, unless they make a huge change in the products they offer. The market is highly competitive, with many players competing with each other in the way they serve the customer base. Some key players in the market are Whirlpool Corporation, Electrolux AB, LG Electronics, Samsung Electronics, and Panasonic Corporation.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Online Retail is Driving the Market
4.2.2 Increasing Disposable Income is Driving the Market
4.3 Market Restraints
4.3.1 Changing Customer Preferences and Lifestyle
4.3.2 Saturation in the Market with the Technology Used in the Appliances
4.4 Market Opportunities
4.4.1 Multi functional Appliances are a Good Growth Opprtunity in the Market
4.4.2 Smart Home Technology Is an upcoming Opprtunity in the Market
4.5 Industry Value Chain Analysis
4.6 Industry Attractiveness - Porters' Five Forces Analysis
4.6.1 Threat of New Entrants
4.6.2 Bargaining Power of Buyers
4.6.3 Bargaining Power of Suppliers
4.6.4 Threat of Substitutes
4.6.5 Intensity of Competitive Rivalry
4.7 Insights on Technology Innovations in the Market.
4.8 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 Major Appliances
5.1.1 Refrigerators
5.1.2 Freezers
5.1.3 Dishwashing Machines
5.1.4 Washing Machines
5.1.5 Ovens
5.1.6 Air Conditioners
5.1.7 Other Major Appliances
5.2 Small Appliances
5.2.1 Coffee/Tea Makers
5.2.2 Food Processors
5.2.3 Grills & Roasters
5.2.4 Vacuum Cleaners
5.2.5 Grills & Roasters
5.2.6 Other Small Appliances
5.3 Distribution Channel
5.3.1 Multi-brand Stores
5.3.2 Exclusive Stores
5.3.3 Online
5.3.4 Other Distribution Channels
6 COMPETITIVE LANDSCAPE
6.1 Market Concetration Overview
6.2 Company Profiles
6.2.1 Haier
6.2.2 Westinghouse
6.2.3 Samsung Electronics
6.2.4 LG Electronics
6.2.5 Bosch
6.2.6 Hisense
6.2.7 Kelvinator
6.2.8 Electrolux
6.2.9 Miele
6.2.10 Panasonic Corporation*
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